Companies & Markets

The former minister of aviation, Babatunde Omotoba, has revealed that the current infrastructure in the power sector was incapable of transmitting more than 4000 megawatts adding that Nigeria cannot generate 7000 megawatts.
He stated this in Abuja yesterday at the...

Nigeria’s central bank said on Wednesday it had ordered South African telecoms firm MTN and four banks to bring $8.134 billion back into the country that MTN had illegally sent abroad in breach of foreign exchange regulations. The news...

The African Development Bank, the European Commission, Mariner Investment Group, LLC (Mariner), Africa50, and Mizuho International plc today announce the pricing of Room2Run, a US $1 billion synthetic securitization corresponding to a portfolio of seasoned pan-African credit risk. Room2Run...

Coca-Cola Co (KO.N) has agreed to buy coffee chain Costa for $5.1 billion (3.92 billion pounds) to extend its push into healthier drinks and take on the likes of Starbucks and Nestle in the booming global coffee market.
The purchase...

Ethiopian Airlines has announced that it has completed the deal to purchase a 49 per cent stake in new Chadian Airlines.
In the joint venture, the government of Chad will retain 51 per cent.
The new Chadian flag carrier is set...

Algerian state energy firm Sonatrach is in talks with 14 international firms for a joint venture to trade oil and gas products after agreeing to buy its first overseas refinery, its CEO said on Thursday.
"I am happy to say...

A privately-owned Nigerian producer of building materials, Ibeto Cement Co. Ltd, has signed a deal to get $850 million in financing from Milost Global Inc, a New York-based private equity firm.
According to Bloomberg, Milost will provide $500 million in equity and $350 million as debt to...

Tongaat Hulett aims to expand its business in Angola and other African nations that rely on sugar imports, in line with a strategy to bulk up in the central and southern region of the continent, the company said on...

Africa’s telecommunication giant MTN is said to start selling about a third of its Ghanaian unit worth $754 million representing 35 percent of the $2 billion next week in an initial public offering.
This will be 10 times larger than...